The Regeneration Effect

Ambition Regeneration Plans

Ambitious regeneration projects are sweeping across the UK. As of 2022, 20 towns and city centres transformed through regeneration projects. Innovative projects can remove barriers to economic growth, helping strengthen communities. Investors looking for their next property investment should consider purchasing property in regeneration zones. These zones are a positive indicator of a profitable investment, as urban regeneration is key to capital growth. Capital growth is your property increasing in value over time. 

Consider a rundown place, then inject it with millions of pounds of innovation. It will automatically become a much more desirable place because of enhanced amenities and upgraded spaces. Properties within 750m of a regeneration zone were 3.6% higher in value per annum than the local authority average. Towns and cities currently undergoing regeneration can spark economic growth, moving towards higher employment and expanding business prospects. 

Positive economic growth attracts more businesses to the area. Therefore, creating more jobs. The increasing number of jobs available results in rising levels of tenant demand as commuters hunt for accommodation. Areas with high levels of tenant demand are more likely to achieve higher rental yields.

Regeneration Schemes in

Sheffield

Sheffield is England’s fourth-largest city, with an economy currently worth £11.3bn. Within the last 10 years, Sheffield has developed through innovative regeneration. As of 2022, this is not set to stop. As an investor, a great place to consider would be Sheffield. Sheffield city centre will see a host of new bars, restaurants, shops, and thousands of new homes from the Moor to Castlegate over the coming years. The upcoming projects will focus on creating quality green spaces with a focus on health and wellbeing. In addition to brand-new and sustainable retail and leisure spaces. Sheffield is also working towards a net-zero strategy.

The £470m Heart of the City scheme, is set to complete in 2024. The scheme is steadily progressing through phase 2. The master plan will deliver 7000 new jobs. Boosting the local economy. Capital growth in the city will continue to rise and successful regeneration projects are underway.  which has already taken place, will be further developed in the new scheme.

The New London:

Manchester

Manchester is another major city undergoing continuous regeneration. Trafford is known to have the most ‘vibrant’ economy in Greater Manchester. Due to a current focus on improving infrastructure and residential development, Manchester is a great place to live, work and invest. Investors can benefit from excellent rental demand in the area, with a huge potential for capital growth.  Notable regeneration projects include:

Trafford Regeneration

MediaCityUK Regeneration

Noma: Reshaping Manchester 

Manchester is the new London, but without the London prices. In London, prices have inflated to £715,201. However, investors can purchase a property in Manchester for £249,576 on average. In 2021, Manchester was voted the third-best city in the world. London’s continuous expansion and high rental yields made the capital the preferred location, but not anymore. Investors have had their heads turned by the Northern city. Over the last couple of years, more people have chosen to live outside of London and commute in. Manchester has always held a strong demand for rental properties in the city centre, with the creation of modern and stylish apartments. In a report by Savills, it is predicted prices in the Northwest will increase by 28.8% over the next five years. Whilst Manchester continues to flourish, this is the perfect place to invest, because you can secure a property at a more affordable price.